Curious to your inputs, because as much as the reactions are irrational, the mkt. is still so focused on crude that it's instrumental for any intra-day positions - as I see it we're back to "70 not being the low perhaps after all?" on a side note, as logical it might be, the whole thing is really casting its light on the difference between the price-setting in equities, and the real deal delivery futures comms. by nature has to face spot on
Has absolutely no effect on the trading, It can be a rumor that santa clause just got shot which made the market drop, doesn't matter. If it's going to drop, it'll make lower highs If its going to hold, it'll make higher lows or maintain lows. Thats all you have to know
Crude has an impact on my trading. Oil stocks are moving on crude, and the S&P moves as well. IMO, this should effect nearly every trader out there.
you might be right in ignoring for the purpose of trading amid it's very irrational effect sometimes, but to say it has no effect is b........... ps. a leading indicator if any p.t.